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5471 S Libby RD Paradise, CA 95969
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Key Details
Sold Price $935,800
Property Type Vacant Land
Sub Type Other Residential Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CRSN23224360
Sold Date 08/05/24
Originating Board California Regional MLS
Lot Size 6 Sqft
Property Description
MOTIVATED SELLER. Prime Improved Land! This may be the opportunity you are looking for to create impressive income. This age-restricted 55+ property is centrally located and close to Shopping, Restaurants, Schools, fire, and police. Improved with a proposed 54 mobile home spaces, 47 of which have separate meters for gas, electricity. Space dimensions accommodate a mix of triple-wide, double, and single-wide manufactured homes and mobile homes. The current market would support $650 monthly space rent for $421,200 annual gross income, pro forma cap rate 28%. The Town of Paradise zoning TR-1 allows for permitted use as a mobile home park, group home, or elderly community care facilities. The subject is situated within the confines of two contiguous Assessor's parcels located west of S. Libby Road, south of Newland Road, within the town of Paradise, California. Access via a long paved driveway from S. Libby Rd gives the feeling of seclusion and privacy. A communal space is central to the park where either 4 spaces could be created or a common multi-use building could be re-built, next to the USPS mailbox cluster. The park has six septic tanks. Trenching for septic and public water to each space will be the responsibility of the new owner, has not been investigated by the listing brok
Location
State CA
County Butte
Zoning GSL,LV
Exterior
View Hills, Forest / Woods
Building
Lot Description Grade - Gently Sloped
Water District - Public
Others
Tax ID 054181026000
Special Listing Condition Not Applicable
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Bought with Dustin Cheatham